Government of Jamaica
The Public Enterprises Division’s mandate (PED) is to examine continually the financial performance of the self-financing public bodies (SFPBs) and Executive Agencies (EAs). This is with a view to reduce their potential fiscal risk on the Government of Jamaica’s economic programme and to facilitate improved financial management by these entities. Given the fiscal risk posed by Public Private Partnerships (PPPs), the Division also collaborates with the Development Bank of Jamaica towards assessing the value for money and sustainability of PPPs, while enhancing the related policy framework for these transactions.
In undertaking its mandate, the Division assesses the impact of SFPBs on the overall economy and develops and advises the Financial Secretary and the Minister of Finance and the Public Service on appropriate policy options for ownership, control, as well as enhanced corporate governance. In this regard, PED undertakes/ facilitates the development (new) and review/amendment (existing) of legislation, policies, guidelines, etc. to guide the operations of all public bodies (not only SFPBs) and EAs.
To develop policies and monitor adherence to policy guidelines that will lead to improved financial management practices in Public Bodies.
To promote sound financial management practices within Public Bodies in order to minimise dependence on budgetary resources and improve flows from viable operations to the Consolidated Fund.
There are three (4) units within the Division, these being International Trade Relations, Research and Analysis, Policy Review and Development and the Tax Relief Unit.
The work of the Public Enterprises Division is carried out in the following units: